What Is Strategic Sourcing?

Quite simply, Strategic Sourcing is the most powerful tool a company can deploy to unlock profit, with a return on investment that is measured in the hundreds of percent and payback in months. Firstly, it creates a rigorous, logical approach to a company's purchasing requirements. Then, it sifts best practice sourcing techniques of multiple industries and tailors them to the specific needs of each individual company. It allows a company (or CEO/ CFO) to have confidence that they are getting the 'best' out of all the external spend of an organisation, including operational bought-in goods and services and capital investments.